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Dec 10, 2012
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we're focused on a global economy. those from harvard are competing globally with students from china, germany, brazil. tavis that transform the way we think about education? do you think your role as straining american leaders? are you looking at attracting global leaders? >> there are so many questions. let me address a few of them. there are numerous kind of statistics that we have a preeminence of college graduates in our populations and levels of participation. we are losing this. we have once last three of the world's college graduates. that is an interesting illustration of a shift in the dynamism. i see this when i travel. a huge commitment to public resources. huge energy to enthusiasm of higher education. india wants 15 -- 1500 new universities by 2020. meeting about hong kong this week. i learned that hong kong university is expanding undergraduate education from three years to four years because they think it is not giving students enough time. there are all these buildings going up. here we are being told
we're focused on a global economy. those from harvard are competing globally with students from china, germany, brazil. tavis that transform the way we think about education? do you think your role as straining american leaders? are you looking at attracting global leaders? >> there are so many questions. let me address a few of them. there are numerous kind of statistics that we have a preeminence of college graduates in our populations and levels of participation. we are losing this. we...
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Dec 10, 2012
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economy to grow to%. the reason i raise this is to go down there and talk to policy makers and business people. we could have more taxes here, more regulation there. a little more cost of labor here. and a fair amount of uncertainty and take on one of the great economic miracles. they understand this thing they have a great economy growing rapidly is fragile and requires government to facilitate rather than later uncertainty. that is almost like a test tube of forcing. we had a time in which we had a huge amount of uncertainty. comes from -- some comes from government action. we had an aggressive regulatory agenda. we have not made a certain investments we have made. you add that up and you have a period in which businesses are operating under huge weight. creates the conditions under which businesses can operate in intellectual freedom. among the things government can do is create the conditions under which cost [no audio] to allow businesses to innovate. >> one of the statistics i looked at how to do wi
economy to grow to%. the reason i raise this is to go down there and talk to policy makers and business people. we could have more taxes here, more regulation there. a little more cost of labor here. and a fair amount of uncertainty and take on one of the great economic miracles. they understand this thing they have a great economy growing rapidly is fragile and requires government to facilitate rather than later uncertainty. that is almost like a test tube of forcing. we had a time in which we...
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Dec 10, 2012
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this could be a good thing for the economy. > > you did get my list then. i am very happy about that. > your gift just became so much more expensive phil. > > thank you. > good to have you on the show this morning. happy holidays. > > thank you. you too. up next, cisco systems is prime to buy another company. what that means for the stock. andrew keene, president of keeneonthemarket.com, joins us now for a closer look at cisco systems. good morning, and what do you think about this stock? > > it is interesting. it's trading at $19.35, which is above the major moving averages - the 100-, 150-, the 200-day is right around this $18.50- $18.80 level. so that is positive. however, it has gotten up to $19.75 and found sellers at that level, so it is kind of trading right in the middle. tom chambers came out and said he would be interested in buying more companies. we looked at hpq, which is one of their competitors, bought autonomy, and that was an absolute disaster. so, do they want to dilute their p/e? they are currently trading at about a 12 p/e. if they go in
this could be a good thing for the economy. > > you did get my list then. i am very happy about that. > your gift just became so much more expensive phil. > > thank you. > good to have you on the show this morning. happy holidays. > > thank you. you too. up next, cisco systems is prime to buy another company. what that means for the stock. andrew keene, president of keeneonthemarket.com, joins us now for a closer look at cisco systems. good morning, and what do you think...
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Dec 13, 2012
12/12
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cutting government spending is good for the market and it's good for the economy. all of this nonsense about we can't take spending cuts, that is the same logic that led to the idea of the $800 billion stimulus bill will get us out of this mess. the other part of this equation is whether those tax increases on investment -- capital gains, dividends, small business taxes will go up. you know, i'm very nervous about that. this is a really bad idea to raise taxes on capital gains and dividends. whether it puts us into a double dip, i don't know. but it certainly could give a shock to the economy. >> ben bernanke saying he's out of their suitcase and he's got nothing left, right? is that he's basically saying? >> he said this could be going on for years and years to come. what you have is a maximum amount of stimulus. and that is being financed by enormous amount of financing. tracy: that's something we have to talk more about. it could be very ugly enough the end of the day, it could be very interesting. all right, do you think we are headed off the fiscal cliff? let
cutting government spending is good for the market and it's good for the economy. all of this nonsense about we can't take spending cuts, that is the same logic that led to the idea of the $800 billion stimulus bill will get us out of this mess. the other part of this equation is whether those tax increases on investment -- capital gains, dividends, small business taxes will go up. you know, i'm very nervous about that. this is a really bad idea to raise taxes on capital gains and dividends....
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surely then in the midst of a flat lining economy t.k. government would be eager to plug the holes it's letting billions of much needed tax pounds really count. but in the chancellor's autumn statement last week and it was the panelists on welfare he were in the government's firing line why has this government decided to clamp down on bennett before clamping down on multi-million pound tax avoiders. well i think that the government is clamping down on that there's been a lot of money allocated by him but there are now that people know that i think morsi or doing that they're doing it now that people know that they've been avoiding paying that amount of tax i mean it's no good doing it after not paying and there's a difference between people. who. voiding tax to. those who are illegally doing it there is a to do when you a citizen or not they're still avoiding paying when interest is handed page and let me actually answer the question once before you actually. legally. starbucks and amazon and google have been doing is ok's that you say i
surely then in the midst of a flat lining economy t.k. government would be eager to plug the holes it's letting billions of much needed tax pounds really count. but in the chancellor's autumn statement last week and it was the panelists on welfare he were in the government's firing line why has this government decided to clamp down on bennett before clamping down on multi-million pound tax avoiders. well i think that the government is clamping down on that there's been a lot of money allocated...
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Dec 12, 2012
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we think that you stimulate the economy by leaving more money in the economy, actually lowering taxes. that's our philosophy. that's who we are as republican. so i would pass that. the house has passed that previously. i would pass that again now and that if we cannot get the president to negotiate from that position, and if they are going give in, don't give in by splitting the baby, give in by voting present, let the democrats pass an increase in the upper tax brackets, comes over to the senate, republicans vote no, and it becomes a democrat tax increase but not a republican, slash, democrat tax increase which i think is a mistake for the republicans. >> some say it's not the end of the world if we go over the fiscal cliff but some say it could thrust us back into recession. what do you think will happen? >> i don't think there's a cliff in the sense that all of a sudden tomorrow something dramatic happens. i think stock markets sometimes react quickly, but for the most part, whether it's going to be a recession or not is a much more long, drawn-out process. but i would say that it'
we think that you stimulate the economy by leaving more money in the economy, actually lowering taxes. that's our philosophy. that's who we are as republican. so i would pass that. the house has passed that previously. i would pass that again now and that if we cannot get the president to negotiate from that position, and if they are going give in, don't give in by splitting the baby, give in by voting present, let the democrats pass an increase in the upper tax brackets, comes over to the...
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Dec 10, 2012
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i don't think the economy is strong enough to have continued quarterly increases. i think we're going to see this probably for the next six months. you're going to have some good reports. jobless claims will probably get better going fod.
i don't think the economy is strong enough to have continued quarterly increases. i think we're going to see this probably for the next six months. you're going to have some good reports. jobless claims will probably get better going fod.
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Dec 7, 2012
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>> what does it do for the economy? >> governor snyder thinks it will bring jobs to michigan and i think strong labor unions do not bring jobs to a state, they send jobs out of a state. >> is that true? >> the governor said that's one reason they did that is indiana passed right to work and 90 companies are going down there to safe thousands of jobs. >> i think you see individual states competing on this base. that is the big appeal. i think the more states that do it, the more -- the fewer fertile grounds there might be to grow those jobs. this is a race that goes on to try to be as business competitive as you can be. >> and unions are shrinking. as governors said, under 18% of michigan's workforce is unionized. >> panel, thank you. why did the state of new jersey bulldoze one man's home without telling initiated. neural speeds increasing to 4g lte. brain upgrading to a quad-core processor. predictive intelligence with google now complete. introducing droid dna by htc. it's not an upgrade to your phone. it's an upgrade
>> what does it do for the economy? >> governor snyder thinks it will bring jobs to michigan and i think strong labor unions do not bring jobs to a state, they send jobs out of a state. >> is that true? >> the governor said that's one reason they did that is indiana passed right to work and 90 companies are going down there to safe thousands of jobs. >> i think you see individual states competing on this base. that is the big appeal. i think the more states that do...
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Dec 10, 2012
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if you look at the economy, it is actually doing okay. i think those things go away if we get a deal. i don't think that is priced in at all. connell: great to have you on. thank you for joining us today. >> my pleasure. dagen: a stock alert for you. it could be a record-setting day at fedex. this could be the busiest day in the company's history. they have about 300,000 permanent workers worldwide. they add an additional 20,000 workers for the seasonal work. it is up 1%. goldman sachs, speaking of the economy: even in the firm's baseline forecast, you can expect economic slowdown in early 2013. things will be even worse if washington cannot cut a deal. financial conditions will very likely be cliff like, early january. connell: stick around for the story coming out of australia. the police there are warning drivers that a problem with apple maps can actually be deathly. dagen: gerri mack brown has his hands full. taxes and not state will kill jobs and entrepreneur roles elsewhere. connell: they have some complaints about all of you and y
if you look at the economy, it is actually doing okay. i think those things go away if we get a deal. i don't think that is priced in at all. connell: great to have you on. thank you for joining us today. >> my pleasure. dagen: a stock alert for you. it could be a record-setting day at fedex. this could be the busiest day in the company's history. they have about 300,000 permanent workers worldwide. they add an additional 20,000 workers for the seasonal work. it is up 1%. goldman sachs,...
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Dec 6, 2012
12/12
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we'd jam the economy into a devastating recession. i mean, david said it well in his piece this morning. if you think the fiscal cliff is a problem, this kind of hostage taking around the debt ceiling is multiples of that and the president is, i think, very correct to stand extremely firm and be extremely clear that he's not going to play that game. >> karen, the politics of this are frightening for the republicans. the latest polling does not support their stance. and given that they spent four years obstructing this president and failed, why do it again from the outset of his second term? >> well, you know, there's good news for the republicans, martin. karl rove's group, crossroads gps is going to spend some money for some ads, and we know that's a successful strategy in convincing the american people. >> that's good news. >> i can't pass that chance up to do that. >> i understand. >> i think part of what's so important about the polling, we talked about this on monday and the quinnipiac polling you were showing, the republicans ha
we'd jam the economy into a devastating recession. i mean, david said it well in his piece this morning. if you think the fiscal cliff is a problem, this kind of hostage taking around the debt ceiling is multiples of that and the president is, i think, very correct to stand extremely firm and be extremely clear that he's not going to play that game. >> karen, the politics of this are frightening for the republicans. the latest polling does not support their stance. and given that they...
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Dec 6, 2012
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the economy is strong. it's going to get stronger. >> what evidence do you have these guys are not just going to go over the fiscal cliff? we heard tim geithner on this program yesterday when steve asked him, look f you don't get what you want, do we go over the fiscal cliff? he said absolutely. >> he said he would do it! >> what happens when we wake up january nd, we go over the cliff, and the world doesn't end? >> that is so irresponsible. >> you have to be a long-term investor. long-term stocks have outperformed bonds. >> with all do respect, george, are you one of those come play september investors larry is referring to? >> i'd say we're opposite of that. we never take anything for granted, but we bet accordingac. bonds are trouble. a lot of people are going to lose a lot of money in bonds. you have to be prepared for that. interest rates are going to go up. dividends are going to continue to increase. the economy in this country is strong. it's going to get stronger. >> even at 44% dividend tax? >> it
the economy is strong. it's going to get stronger. >> what evidence do you have these guys are not just going to go over the fiscal cliff? we heard tim geithner on this program yesterday when steve asked him, look f you don't get what you want, do we go over the fiscal cliff? he said absolutely. >> he said he would do it! >> what happens when we wake up january nd, we go over the cliff, and the world doesn't end? >> that is so irresponsible. >> you have to be a...
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Dec 11, 2012
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the japanese economy has some gross domestic problems. japan's gdp has contracted two quarters in a row, signaling it has entered recession. a recent territorial dispute with the chinese government and struggles following last year's tsunami continue to hurt japan's export market. an election next week in japan could have a large effect on fiscal policy. reports say delta is close to landing a deal that will give the airline a 49% stake in virgin atlantic. bloomberg reports talks between delta and singapore airlines, which is looking to sell its stake in virgin, are advancing. the deal is estimated to cost between $300 and $500 million. it could mean a step up for delta's business, due to virgin atlantic's high volume of premium passengers. apple and google reportedly are forming a rather odd alliance. the two rivals are making a joint bid for a bundle of kodak patents. according to bloomberg news, the combined bid is $500 million. kodak could get an $830 million loan to get out of bankruptcy by selling its patents. holiday hiring is on t
the japanese economy has some gross domestic problems. japan's gdp has contracted two quarters in a row, signaling it has entered recession. a recent territorial dispute with the chinese government and struggles following last year's tsunami continue to hurt japan's export market. an election next week in japan could have a large effect on fiscal policy. reports say delta is close to landing a deal that will give the airline a 49% stake in virgin atlantic. bloomberg reports talks between delta...
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Dec 5, 2012
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starbucks will be troubling if the economy falls down. last week i think starbucks is the best stock to own although they're busy all day long. russ says i like starbucks for its cult-like following. technicals look like garbage. green mountain has gained 64% over the past month. a reoccurring question on twitter, is this sentiment driven or are there fundamentals you've seen on gmcr? hopefully we can get them to answer right here. mike, what do you say? >> you know, it's interesting. we've seen some bearish activity for a couple of days with starbucks going into this. we saw more of that today. we have a little bit of a valuation problem. green mountain we've seen a little more bullish activity. i have to say i'm not overly optimistic about either one of them. >> are we talking about greep mountain? >> yes. >> remember the day had a we said you'll continue to see a short covering rally. it will overshoot to the short side. over the last couple of days i think it still goes higher. >> starbucks to me, this is the new yum. in fact, we did
starbucks will be troubling if the economy falls down. last week i think starbucks is the best stock to own although they're busy all day long. russ says i like starbucks for its cult-like following. technicals look like garbage. green mountain has gained 64% over the past month. a reoccurring question on twitter, is this sentiment driven or are there fundamentals you've seen on gmcr? hopefully we can get them to answer right here. mike, what do you say? >> you know, it's interesting....
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Dec 7, 2012
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and it's going to help the economy. so this is a very favorable outcome. >> thank you very much for joining us today, harley. thanks for bringing these jobs back here. >>> the other big issue in the job market -- the lack of skilled workers. it is actually becoming a big issue for builders. diana olick is on that story. diana, what happened to all the construction workers that were out of work a couple years ago? where did they go? >> reporter: well, about 2 million of them, believe it or not, left the workforce during the housing crash. this is residential and non-residential construction. because this crash has gone on for going on five years now, a lot of those workers were retrained in other careers and are actually not coming back to home building. that's why the builders are saying they need skilled workers. skilled workers like these students here at the potomac job corps who are learning the trade quickly because there's finally demand for them. >> do you see a number of employers in this space doing the trainin
and it's going to help the economy. so this is a very favorable outcome. >> thank you very much for joining us today, harley. thanks for bringing these jobs back here. >>> the other big issue in the job market -- the lack of skilled workers. it is actually becoming a big issue for builders. diana olick is on that story. diana, what happened to all the construction workers that were out of work a couple years ago? where did they go? >> reporter: well, about 2 million of...
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style route in trying to stimulate the economy when you mention the l.d.p. that will that democratic party i mean these economic troubles are benefiting them the opposition there how could this change the political situation inside the country. well i think we're about to see quite a big about face taking place of course the l.d.p. the liberal democrat party was in power for almost the entirety of the post-war period here in japan but for the past few years the japanese electorate basically tried a little bit too to try a different party they tried with the democratic party in japan that hasn't worked out in the ways that it was expected to and certainly economically speaking japan continues to be that basket case of the of asia so basically it seems that almost inevitable that the l.d.p. is going to be put back into power next week and with that comes not only big changes in the economic policy but i think there's going to be some some very big changes geopolitically speaking as a be the leader of the l.d.p. . he is quite a hard liner on a number of issues
style route in trying to stimulate the economy when you mention the l.d.p. that will that democratic party i mean these economic troubles are benefiting them the opposition there how could this change the political situation inside the country. well i think we're about to see quite a big about face taking place of course the l.d.p. the liberal democrat party was in power for almost the entirety of the post-war period here in japan but for the past few years the japanese electorate basically...
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that if you increase taxes in a bad economy, it will make the economy worse. the president made that case in 2009. and we're still in a bad economy. >> wonderful point. now i'm in the unfortunate position of calling the last question here today. so i'm going to leave the last question to janet here in the front table. >> hi. jan bates, a conservative voter. would speaker boehner be able to pass the compromise on a tax rate increase without the r.s.c.? >> i don't know. [laughter] look, if it's got a tax increase in it, i'm not going to be for it. and i think there's lots of members who won't be for it. you but you don't know. the r.s.c. doesn't always function as a unit, as we all know. as i certainly discovered over the two years. i knew it going in but you see it firsthand when you're the chair and steve will have the same wonderful experience over the next two years. so we'll see. but we've said it several different ways. >> i'm focused on working on a solution to this problem. it's a serious problem. the president surely hasn't put out a serious proposal. w
that if you increase taxes in a bad economy, it will make the economy worse. the president made that case in 2009. and we're still in a bad economy. >> wonderful point. now i'm in the unfortunate position of calling the last question here today. so i'm going to leave the last question to janet here in the front table. >> hi. jan bates, a conservative voter. would speaker boehner be able to pass the compromise on a tax rate increase without the r.s.c.? >> i don't know....
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18% say yes, the economy is getting stronger. 32% say no. more americans have just stopped looking for jobs. 16% say the jury is out, still worried about the fiscal cliff and 34% say i think the number is bogus to begin with. let's see what's coming up on "street signs." >>> wow. not sure i can top that one, tyler. but thank you. have we become a nation of pessimists whether our expectations for job creation has dropped so low or are we just realists? netflix ceo getting himself into hot water with a facebook post. does the s.e.c. really have a case against him or do the laws need to change with regard to social media? >>> and could pot help us solve our fiscal problems? guys, we are calling this the fiscal splif and we will rise above it, mon. "street signs" it is australian for business news. >> thanks, brian. see you at 2:00 p.m. >>> steve case is one of america's greatest entrepreneurs, best known as co-founder of america online, along with dozens of other investments such as living social and zip car and really too many to name. these d
18% say yes, the economy is getting stronger. 32% say no. more americans have just stopped looking for jobs. 16% say the jury is out, still worried about the fiscal cliff and 34% say i think the number is bogus to begin with. let's see what's coming up on "street signs." >>> wow. not sure i can top that one, tyler. but thank you. have we become a nation of pessimists whether our expectations for job creation has dropped so low or are we just realists? netflix ceo getting...
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find out what's really happening to the global economy. there are no holds barred global financial headlines two kinds are reports. of. the book. the book. and. which brings me food. from stupid question. who screams don't tonty don't come. by imax kaiser welcome to the kaiser report double double toil and trouble fire burn and cauldron bubble yes people the three witches of wall street lloyd jamie and jamie have spoken they say that into their cauldron of perpetual bubble will forever go your toil and trouble and that your economies and your wealth will burn in the fire of their witches are dead. stacy. yes max believe it or not after years of zero percent interest rates just as we predicted world the risks fresh credit bubble switzerland's be i asked warrants asset prices across the world have risen to the heady levels not seen since the credit boom five years ago and maybe losing touch with economic reality yet again the bank for international settlements is war and that's exactly what i had as my top story i'm love one more thinking li
find out what's really happening to the global economy. there are no holds barred global financial headlines two kinds are reports. of. the book. the book. and. which brings me food. from stupid question. who screams don't tonty don't come. by imax kaiser welcome to the kaiser report double double toil and trouble fire burn and cauldron bubble yes people the three witches of wall street lloyd jamie and jamie have spoken they say that into their cauldron of perpetual bubble will forever go your...
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. >> that's because the underlying economy is improving. now you get china. if europe can stabilize, i think we can go much higher. >> how many days, if you add headline that monty was thinking about, going out and bursceloni was thinking about coming back. follow me on twitter. and "power lunch" begins right now. >> halftime is over. "power lunch" and second half of the trading day starts right now. >> and here we are. welcome to "power lunch." as you can see, we are beth here on the floor of the new york stock exchange. and stocks are higher as fiscal cliff song and dance continues in washington. mr. boehner says he is waiting for a proposal from this gentleman, the president. president obama. and the president is set to speak about the cliff and the a economy later today. >> i thought i was supposed to come here today. you thought you were supposed to come here today. so we are both here. not really, folks. a lot of talk today is about what investors should do if we go over the cliff. what should we do if there is a debt deal before year-end or shortly the
. >> that's because the underlying economy is improving. now you get china. if europe can stabilize, i think we can go much higher. >> how many days, if you add headline that monty was thinking about, going out and bursceloni was thinking about coming back. follow me on twitter. and "power lunch" begins right now. >> halftime is over. "power lunch" and second half of the trading day starts right now. >> and here we are. welcome to "power...
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Dec 13, 2012
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KRON
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economy by buying u.s. treasuries in mortgage- backed securities. by this time the fed tied their policies to and numbers same they will continue to keep the federal fund rate rate near 0 it until the u.s. unemployment rate falls below 6.5 percent right now it's at 7.7%. we will be right back. look at you guys with your fancy-schmancy u-verse high speed internet. you know, in my day you couldn't just start streaming six ways to sunday. you'd get knocked off. and sometimes, it took a minute to download a song. that's sixty seconds, for crying out loud. we know how long a minute is! sitting, waiting for an album to download. i still have back problems. you're only 14 and a half. he doesn't have back problems. you kids have got it too good if you ask me. [ male announcer ] now u-verse high speed internet has more speed options, reliability and ways to connect. rethink possible. amonte of this morning google maps will be returning to the iphone. the world's most popular on my map systems has returned with the release of the global maps iphone. the new a
economy by buying u.s. treasuries in mortgage- backed securities. by this time the fed tied their policies to and numbers same they will continue to keep the federal fund rate rate near 0 it until the u.s. unemployment rate falls below 6.5 percent right now it's at 7.7%. we will be right back. look at you guys with your fancy-schmancy u-verse high speed internet. you know, in my day you couldn't just start streaming six ways to sunday. you'd get knocked off. and sometimes, it took a minute to...
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Dec 11, 2012
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american economy is doing. not what the defense bar and is doing. if you have a growing economy creating jobs, reemployment happens quickly, new jobs created. if you increase the flow of money in the economy by reducing federal borrowing, that creates jobs. you have to view the economy as a system. you cannot say, defense dollars down, jobs down. guest: if you reduce the spending on the domestic side too radically, too soon, what you're looking at is a second recession. the twitter comment is mostly right. if you did it over a protracted period of time in a smoother curve, you might be able to ameliorate many of these job costs or economic effects. guest: if you talk about sequestration and the loss of over $1 trillion in the american economy, that does not happen in one year. what happens in one year is $109 billion. that is a significantly smaller touch in a $16 trillion economy. host: that is defense and nondefense? guest: defense and non-defense. armageddon, words like that do not apply here. guest: you sti
american economy is doing. not what the defense bar and is doing. if you have a growing economy creating jobs, reemployment happens quickly, new jobs created. if you increase the flow of money in the economy by reducing federal borrowing, that creates jobs. you have to view the economy as a system. you cannot say, defense dollars down, jobs down. guest: if you reduce the spending on the domestic side too radically, too soon, what you're looking at is a second recession. the twitter comment is...
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Dec 13, 2012
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economy. we can give support to millions of americans struggling to recover from hurricane sandy wefment can begin an open deba as i said on the violence against women act. historians have said that this term of congress, these last two years, have been the least productive in american history. that is not anything to be proud of but the majority seems to be intent to keep that title. they spent two years taking vote after vote to repeal health care and even more time to make sure that the $4 billion subsidy to the big oil companies stays intact. it's shames will and we need to do more than that. the people who sent us here deserve more than that we should not be crying out in the wilderness to work, we have been sent here to work and we need to get down to it. in the final hours of this congress and we have the threat of working christmas, if we have to do it to get things done, i'm willing to do that, but the majority should help solve the nation's most pressing issue, that's why we're here.
economy. we can give support to millions of americans struggling to recover from hurricane sandy wefment can begin an open deba as i said on the violence against women act. historians have said that this term of congress, these last two years, have been the least productive in american history. that is not anything to be proud of but the majority seems to be intent to keep that title. they spent two years taking vote after vote to repeal health care and even more time to make sure that the $4...
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one of our next guests says they hurt the economy more than they help and he calls them jobs killers. a heated debate on the death tax coming up here. >>> but coming up next, more republican lawmakers are saying they are open to higher tax rates on the rich if they come with spending cuts. that's a really big if. we're going to speak with one gocongressman who will lay out the spending cuts he would like to see, he needs to see in order to vote on the higher taxes. >>> and we wanted to give you a heads up on a hot slide show on cnbc.com that highlights predictions that went wrong this year. one great example, doomsday forecast that the u.s. bond market would go bust. thankfully that did not happen. quite the opposite, as a matter of fact. there's more on the cnbc.com. check it out on our website. we're back on tv in just a moment. tdd# 1-800-345-2550 you should've seen me today. tdd# 1-800-345-2550 when the spx crossed above its 50-day moving average, tdd# 1-800-345-2550 i saw the trend. tdd# 1-800-345-2550 it looked really strong. tdd# 1-800-345-2550 and i jumped right on it. tdd# 1-
one of our next guests says they hurt the economy more than they help and he calls them jobs killers. a heated debate on the death tax coming up here. >>> but coming up next, more republican lawmakers are saying they are open to higher tax rates on the rich if they come with spending cuts. that's a really big if. we're going to speak with one gocongressman who will lay out the spending cuts he would like to see, he needs to see in order to vote on the higher taxes. >>> and we...
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the only question is how much financial stress middle class families and our entire economy will have to endure during this process. >> is this any way to solve the biggest threat to the economy since lehman brothers? "fast money" starts right now. >>> live from the nasdaq market site in new york city's times square, i'm melissa lee. back from the brink. from b of a to yahoo! stocks, are suddenly the comeback kids of the fourth quarter. we're separating winners from losers. >>> plus, sell signal. if insiders are heading for the exits, should you be, too? >>> and we're talking real estate and the fiscal cliff with dolly lens. but first, let's get straight to our top story, and that is the haggling in washington, d.c. president obama's meeting with house speaker john boehner this hour. john, what should we expect? >> we expect the meeting to last something less than an hour between the speaker and the president of the united states. a republican leadership aide told me the meeting is taking place because a shakeup is required in budget talks, given the inflexibility of the white house.
the only question is how much financial stress middle class families and our entire economy will have to endure during this process. >> is this any way to solve the biggest threat to the economy since lehman brothers? "fast money" starts right now. >>> live from the nasdaq market site in new york city's times square, i'm melissa lee. back from the brink. from b of a to yahoo! stocks, are suddenly the comeback kids of the fourth quarter. we're separating winners from...
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with the housing market, economy. the president is tracking that very closely. if you go back to the period, you will see after the fall of 1973, 1974, subsequent recovery of the dow got back to 70% of its highs before we fell again. this time, a move to within 3.5% of the 2007 highs would have taken us to 13,700. the highs so far being 17,661. we replicated that very closely. the oil price may be the catalyst to give a second effect which may send the stock market down. after that tone in the 70s, the next move down in the stock market was about 27% over an 18-month period. >> can you tell me in 20 seconds why you think gold will hit 2400? >> every nation in the world is printing money. gold is a hard currency. they'll continue to print in this monetary experiment because they've got nowhere else to go and a cause of when we believe gold will continue to outperform. technical pattern looks good. doesn't look like a bubble. it is nowhere near in percentage terms of what we saw in the 70s. >> good to have you on the show. thanks for coming on. >> tom fitzpatrick.
with the housing market, economy. the president is tracking that very closely. if you go back to the period, you will see after the fall of 1973, 1974, subsequent recovery of the dow got back to 70% of its highs before we fell again. this time, a move to within 3.5% of the 2007 highs would have taken us to 13,700. the highs so far being 17,661. we replicated that very closely. the oil price may be the catalyst to give a second effect which may send the stock market down. after that tone in the...
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economy and buying treasury and mortgage-backed securities. we have the dow 79 points yesterday and right now the future is up 15 at the opening bell. >> the highest tide of the year is going to hit sampras's go bay and nearby beaches this week. it is called the king tied. we would turn you into jackie sissel who joins us live from pacifica. any site yet? >> it is coming. (laughter) at 945 this morning is when we will see it. it is not just today, for the next three days. we was seeking tide that has to deal with the sun and moon and the gravitational pull. we have extremely high tide to cross the bay area for the next couple of days. low-lying areas, you'll see a lot of the coastal flooding. here at the pacific appear we can see the waves almost hit the sea wall. we will probably say, i have to be careful out here. a couple of waves crashing over that sea wall. it is extremely windy and the rain will blow through sideways out here. it is kind of a nasty morning in pacifica. >> it looks blustery. from the camera angle it looks like snow. erica
economy and buying treasury and mortgage-backed securities. we have the dow 79 points yesterday and right now the future is up 15 at the opening bell. >> the highest tide of the year is going to hit sampras's go bay and nearby beaches this week. it is called the king tied. we would turn you into jackie sissel who joins us live from pacifica. any site yet? >> it is coming. (laughter) at 945 this morning is when we will see it. it is not just today, for the next three days. we was...
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a declining economy and everything else that goes with it. technically the setup here, either jpmorgan or goldman sachs. i think bang for your buck, goldman sachs. bank of america right now overbought. looks like it wants to come back in. >> guys? >> grasso, i think if -- to kind of give people an easy way to choose, if you think we're going to have -- meaning an up equity market, lots of issuance, maybe goldman is your pick. if you don't think that's the case jpmorgan is probably the better of the two. both of them look great technically. i agree with you. >> from a technical standpoint i agree with steve. he's spot on. goldman looks like if it can peek its head up above the near term trend line it goes higher. bank of america if you're in the name you need to take it off. way, way, way overbought. >> what are you smiling for? >> i like to smile. i enjoy smiling. it makes me feel good about the day, scott. i'm a happy guy. >> facial expressions are priceless. >> i looked at you. we shared some quick eye contact. i smiled. fundamentally -- >>
a declining economy and everything else that goes with it. technically the setup here, either jpmorgan or goldman sachs. i think bang for your buck, goldman sachs. bank of america right now overbought. looks like it wants to come back in. >> guys? >> grasso, i think if -- to kind of give people an easy way to choose, if you think we're going to have -- meaning an up equity market, lots of issuance, maybe goldman is your pick. if you don't think that's the case jpmorgan is probably...
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economy needs is giving a larger footprint to the chinese system. china's corporate criminals who are often inditing wishable. we don't want to give the chinesing nomic sift apple larger footprint into american capitalism. secondly, this makes a mock rift green energy policies. the main rational for which was we don't want these so-called industries of the future controlled by foreign countries and by foreign companies. and here we are, transferring all of this property over to a chinese company. and there was an american buyer. there was an american buyer. an american-owned option. >> on that point, alan, is there any sensitive technology or information that is going to be given to the chinese through this trance ak. >> that's a great question, mandy. you are broadcasting from northern jersey, right sni think you recently you learned how important electricity grids are, right? when you don't have electrical power bb life becomes very bad. a123 is making product that helps control the electricity grid system. do we want the chinese owning this techn
economy needs is giving a larger footprint to the chinese system. china's corporate criminals who are often inditing wishable. we don't want to give the chinesing nomic sift apple larger footprint into american capitalism. secondly, this makes a mock rift green energy policies. the main rational for which was we don't want these so-called industries of the future controlled by foreign countries and by foreign companies. and here we are, transferring all of this property over to a chinese...
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but the economy's added some 3 1/2 million, 4 million jobs and that is a recovery. it's not as fast as the reagan recovery. it's faster than the push recovery and it's factored somewhere in there. >> i never thought i'd hear you say-- >> a starting point clearly was-- >> all right, i take your point. it's good stuff. i never thought i'd hear you say it's not as fast as the reagan recovery, but you just said it. >> i say that every time whenever you bring it up, that's one of the great recoveries in u.s. history. it helps when you can go straight back and doing what you were doing. stuart: if only we had done in 2009 what ronald reagan did in 1982, but i'm out of time. you know i'm out of time, now that. >> which is set the highest rate at 50%? >> no. >> that's what it was. stuart: it stimulates the private sector, not all government all the time. that's the story. aw austan, i'm sorry, i really am out of time. thank you, sir. more "varney & company" in a moment. >> a strong earthquake hit the coast of japan in the same region where the fukushima plant was devastated
but the economy's added some 3 1/2 million, 4 million jobs and that is a recovery. it's not as fast as the reagan recovery. it's faster than the push recovery and it's factored somewhere in there. >> i never thought i'd hear you say-- >> a starting point clearly was-- >> all right, i take your point. it's good stuff. i never thought i'd hear you say it's not as fast as the reagan recovery, but you just said it. >> i say that every time whenever you bring it up, that's...
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surely then in the midst of a flat lining economy ek government would be eager to plug the holes it's listing billions of much needed tax plans you can count. it in the chancellor's autumn statement last week and it was the pelisse on welfare in the government's firing line why has this government decided to clamp down on benefits for clamping down on multi-million pound tax avoiders. well i think that the government is clamping down on that there's been a lot of money allocated by him and then i'm going down now that people know. him or see or doing their thing and now that people know that they've been avoiding paying that amount of tax i mean it's no good doing it are not paying well there's a difference between people who are. of voiding tax through legitimate reasons and those who are illegally doing it there is a to do when we were only still avoiding paying where interested me again. let me actually answer the question once before you actually interop tax avoid is ok to legally tell you what starbucks and amazon and google have been doing is ok is that you're saying there's a d
surely then in the midst of a flat lining economy ek government would be eager to plug the holes it's listing billions of much needed tax plans you can count. it in the chancellor's autumn statement last week and it was the pelisse on welfare in the government's firing line why has this government decided to clamp down on benefits for clamping down on multi-million pound tax avoiders. well i think that the government is clamping down on that there's been a lot of money allocated by him and then...
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economy. i think right now, quite frankly, there's nothing but cyclical upside to the u.s. economy. if you look at cyclical components of gdp, things like durable goods consumption, refrigerators, ranges, microwaves, relative, even cars, relative to their share of gpd, historically, we haven't really had a recovery. even though we've technically been in one for three years. to me, only a matter of time. right now, the average age of a consumer durable good is five years. that's the highest since the 1950s. so, to me, it's just really a matter of time. we know that househood balance sheets are improving. really the only drag right now, i think, is this fiscal cliff and the uncertainty around it. >> right. >> and how that's having an effect on household decisions right now. but beyond that, as i said, i said it again and i'll say it again, nothing but cyclical upside to the u.s. economy. >> if you've done -- i don't know if you did a back of the envelope calculation, just bring up consumption of durable goods to the norm, what we've seen it in the past, how much would that be in terms
economy. i think right now, quite frankly, there's nothing but cyclical upside to the u.s. economy. if you look at cyclical components of gdp, things like durable goods consumption, refrigerators, ranges, microwaves, relative, even cars, relative to their share of gpd, historically, we haven't really had a recovery. even though we've technically been in one for three years. to me, only a matter of time. right now, the average age of a consumer durable good is five years. that's the highest...
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that is a big headwind for this economy. all of this uncertainty throughout the second half of this year, all of 2012 will be replaced with certainty and that should unleash pent-up demand when we see it in the construction, in capital spending, housing improving, certainty replacing uncertainty will be a big theme in 2013. tracy: that is all it is going to take? talking about spain, 2013 is setting itself up to be the year of uncertainty. i think it is the year of the snake in china. >> looks, europe has been with us for three years and at the margin it continues to get a little bit better. with the new government in china, a case can be made for a pickup in growth a little bit more stimulus. so these things have been with us, but the pictures a little bit more clear than where it was. we think 13 can be a good year economically coming off of two sluggish years. ashleytracy: we said 16 tradings left, where she be putting my money in preparation for all this? >> first of all if we get a significant selloff, though sidelines
that is a big headwind for this economy. all of this uncertainty throughout the second half of this year, all of 2012 will be replaced with certainty and that should unleash pent-up demand when we see it in the construction, in capital spending, housing improving, certainty replacing uncertainty will be a big theme in 2013. tracy: that is all it is going to take? talking about spain, 2013 is setting itself up to be the year of uncertainty. i think it is the year of the snake in china. >>...
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it will hurt the economy without solving the problem. connell: is he supposed to -- that would be characterized as a "grand bargain." if you are right, his job is literally on the line. >> there isn't much of an option. he has not been talking about that. there is no intellectual foundation for math. if it gets tough, he gets blamed. he is going to come up with a lousy deal of some sort. that is about the past that he and republicans can hope for. connell: we will hear from the speaker of the house and just moments. we have received some advanced remarks that speaker boehner will use. we do not know where the spending cuts are. >> he has two or three weeks. it is pretty difficult to imagine. i think they will come up with phony cuts that taken down the road. that is about the best we can expect from john boehner. that is why, ultimately, he will have pressure to be replaced after he signed this deal. connell: we will hear questions and hear the speaker talk. thank you very much for coming on. if you think about all this fiscal cliff nons
it will hurt the economy without solving the problem. connell: is he supposed to -- that would be characterized as a "grand bargain." if you are right, his job is literally on the line. >> there isn't much of an option. he has not been talking about that. there is no intellectual foundation for math. if it gets tough, he gets blamed. he is going to come up with a lousy deal of some sort. that is about the past that he and republicans can hope for. connell: we will hear from the...
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that is even bigger crisis than if we let the bond market collapse and let it take the economy with it. liz: let's not start so macro. we're throwing out this term the bond market. a lot of our viewers on treasurys what specifically are you talking about? the entire yield curve? >> well, the government is borrowing over a trillion dollars a year right now and i put borrowing in quotes because borrowing implies that you will pay it back. we will never pay it back. we can't pay it back. that's why we have to raise the debt ceiling because we can't pay our bills. we have to borrow more money from the same people who loaned us money in the first place. it is a giant ponzi scheme. liz: what would cause the back to break of this scheme that you call it? >> well, as creditors don't want to buy treasurys and only buyer left is the federal reserve, i mean you still have foreign central banks. but they will back away. if the fed is the only buyer it has to print an enormous amount of dollars to buy upp3 all the maturing bond and all the new bond and that sends the dollar collapsing and prices sk
that is even bigger crisis than if we let the bond market collapse and let it take the economy with it. liz: let's not start so macro. we're throwing out this term the bond market. a lot of our viewers on treasurys what specifically are you talking about? the entire yield curve? >> well, the government is borrowing over a trillion dollars a year right now and i put borrowing in quotes because borrowing implies that you will pay it back. we will never pay it back. we can't pay it back....
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it could be damage for economy struggling to recover. takes us further down the road for what i think is the news of the day. argument over the debt ceiling today. that is one point of the republican lench in the dole. some machiavellian misstep made. he wanted the democrats to be embarrassed. and have to force a vote and propose it. reed said go ahead. put them in position to filibuster. to speak to the judge's point, if people stand here and simply say no to the idea of raising the tax rates on the republican side, it will damage the republican brand. the republicans have to get the best possible deal. in the spirit of the president's problem and he was intent on spending. not on cutting spending. but on taxes. that is how you use the president's position against him. to say no goes to bevy of polls that show republicans have the lion's share. >> bret: isn't that fair to say the president hasn't poe cussed at owl on cutting spending? the white house says they agreed to a $1 trillion in discretionary spending cuts. proposal to achieve $
it could be damage for economy struggling to recover. takes us further down the road for what i think is the news of the day. argument over the debt ceiling today. that is one point of the republican lench in the dole. some machiavellian misstep made. he wanted the democrats to be embarrassed. and have to force a vote and propose it. reed said go ahead. put them in position to filibuster. to speak to the judge's point, if people stand here and simply say no to the idea of raising the tax rates...
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it's why we have to get our economy back on track. i think that's what the election was about that president obama just won the american public feels we are moving in the right direction i think we are as well. >> laura: nancy and nile thanks so much. apparent suicide of the nurse at the center of the kate middleton radio prank and george zimmerman's lawsuit against nbc. geraldo up next. [ malennouncer ] it's tt time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you realldon't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it findone, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all youeed is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. neural speeds increasing to 4g lte. d-core processor. predictive intelligence with google now complete. introducing droid dna by htc. it's not an upgrad
it's why we have to get our economy back on track. i think that's what the election was about that president obama just won the american public feels we are moving in the right direction i think we are as well. >> laura: nancy and nile thanks so much. apparent suicide of the nurse at the center of the kate middleton radio prank and george zimmerman's lawsuit against nbc. geraldo up next. [ malennouncer ] it's tt time of year again. time for citi price rewind. because your daughter really...
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that has an enormous ripple effect throughout the economy. many of you, over the last two or three years, have experienced record profits or near record profits and have a lot of money where you are prepared to invest in plants and equipment and hire folks. obviously, globally, the economy is still soft. europe will be there for quite some time. asia is not charging forward as quickly as they were navy a few years ago. but, i think what you have unrecognized and what many of you have told me, everybody is working for america. they understand that if we are able to put forward a long-term agenda, for growth and prosperity, it is broad-based here in the united states, the covenants will not just increase here in the united states, it will increase globally. we can get the cycle i think all of us have been waiting for and want to see. what is holding us back right now, ironically, is a lot of stuff going on in this town. i know that many of you have come down here to try to see if there is a way we can break through the law jim and go ahead and
that has an enormous ripple effect throughout the economy. many of you, over the last two or three years, have experienced record profits or near record profits and have a lot of money where you are prepared to invest in plants and equipment and hire folks. obviously, globally, the economy is still soft. europe will be there for quite some time. asia is not charging forward as quickly as they were navy a few years ago. but, i think what you have unrecognized and what many of you have told me,...
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>> on spending cuts, getting to a balanced budget and certainty is good for the economy. liz: ben, spirit airlines ceo, good to see you, have a good holiday season. >> have a great holiday. liz: we'll be back in just 15 minutes to see how this one ends. stay tuned. >> sandra smith following the big movers, and down sharply today, a profit taking? >> they had a great year in fact. year-to-date chart, up over 200 this year, doubled in price, still a $5 stock, but the home builders have come back from really just dismal numbers. there is profit taking today. the big news is how they were smaller than expected, and look, getting hit, 5% is a lot that had been in the stocks take profit, and down 1.5% today, but any investors in the home builders enjoying nice gains seen so far for 2012. moving on, the sectors, one area is big tech. look at apple, down 1.8% in today's trading session, a big selloff experienced over the last couple months, apple cap dipping below 500 billion today. that's a varied market difference in apple all year, and, by the way, liz, handing it back to you,
>> on spending cuts, getting to a balanced budget and certainty is good for the economy. liz: ben, spirit airlines ceo, good to see you, have a good holiday season. >> have a great holiday. liz: we'll be back in just 15 minutes to see how this one ends. stay tuned. >> sandra smith following the big movers, and down sharply today, a profit taking? >> they had a great year in fact. year-to-date chart, up over 200 this year, doubled in price, still a $5 stock, but the home...
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it's why we have to get our economy back on track. i think that's what the election was about that president obama just won the american public feels we are moving in the right direction i think we are as well. >> laura: nancy and nile thanks so much. apparent suicide of the nurse at the center of the kate middleton radio prank and george zimmerman's lawsuit against nbc. geraldo up next. for the lowest. and if it findone, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all youeed is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. ♪ ♪ [ male announcer ] while you're getting ready for the holidays, we're getting ready for you. tis the season. for food, for family, and now, something extra -- for you. >> very disturbing story developing tonight involving the royal family and radio show hoax that took a terrible turn. the nurse duped into transferring a prank phone call has been found dead an apparent suicide. he
it's why we have to get our economy back on track. i think that's what the election was about that president obama just won the american public feels we are moving in the right direction i think we are as well. >> laura: nancy and nile thanks so much. apparent suicide of the nurse at the center of the kate middleton radio prank and george zimmerman's lawsuit against nbc. geraldo up next. for the lowest. and if it findone, you get refunded the difference. just use your citi card and...